information leads people to choose tasks that raise expected output, however extreme overconfidence leads people to undertake … tasks that are excessively challenging. Consistent with our results, psychologists have found that moderate overconfidence …

overconfidence and linked to the judgment literature in psychology. Empirical tests of the models often fail to find evidence for the … predicted effects of overconfidence. These studies assume, however, that a specific type of overconfidence, i.e., miscalibration … the theoretical predictions of the overconfidence literature in economics and finance, one cannot rely on the well …